Can I retire at age 59 with 896,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$73,991$73,332$72,689$72,061$71,448$69,977
2 years$36,629$35,947$35,286$34,645$34,023$32,547
3 years$24,177$23,492$22,832$22,197$21,586$20,152
4 years$17,952$17,269$16,616$15,992$15,395$14,014
5 years$14,218$13,539$12,895$12,283$11,703$10,379
6 years$11,729$11,056$10,421$9,823$9,260$7,994
7 years$9,953$9,285$8,660$8,076$7,531$6,323
8 years$8,621$7,959$7,344$6,775$6,248$5,098
9 years$7,585$6,929$6,326$5,771$5,261$4,169
10 years$6,757$6,108$5,515$4,974$4,483$3,447
11 years$6,080$5,437$4,855$4,329$3,856$2,874
12 years$5,517$4,880$4,309$3,797$3,341$2,413
13 years$5,040$4,410$3,850$3,352$2,914$2,037
14 years$4,632$4,009$3,459$2,976$2,554$1,728
15 years$4,279$3,662$3,123$2,654$2,249$1,471
16 years$3,970$3,360$2,831$2,376$1,987$1,256
17 years$3,697$3,094$2,576$2,135$1,762$1,075
18 years$3,456$2,859$2,352$1,924$1,567$923
19 years$3,239$2,650$2,153$1,739$1,397$793
20 years$3,045$2,463$1,976$1,575$1,247$683
21 years$2,870$2,294$1,818$1,429$1,116$589
22 years$2,710$2,141$1,675$1,299$1,001$508
23 years$2,565$2,003$1,547$1,183$898$439
24 years$2,432$1,876$1,430$1,079$807$380
25 years$2,310$1,761$1,325$986$726$329
26 years$2,197$1,655$1,229$901$654$285
27 years$2,093$1,557$1,141$825$590$247
28 years$1,997$1,468$1,061$756$532$214
29 years$1,907$1,384$987$693$481$186
30 years$1,824$1,308$919$636$434$161
31 years$1,746$1,236$857$584$393$140
32 years$1,673$1,170$800$537$355$121
33 years$1,605$1,108$747$494$321$105
34 years$1,540$1,050$698$454$291$91
35 years$1,480$996$652$418$264$79
36 years$1,423$945$610$385$239$69
37 years$1,369$898$571$355$216$60
38 years$1,319$853$535$327$196$52
39 years$1,271$811$501$302$178$45
40 years$1,225$772$470$278$161$39
41 years$1,182$735$440$257$146$34
42 years$1,141$700$413$237$133$30
43 years$1,102$667$388$219$121$26
44 years$1,065$635$364$202$109$22
45 years$1,029$606$342$186$99$20
46 years$995$578$321$172$90$17
47 years$963$552$301$159$82$15
48 years$932$527$283$147$74$13
49 years$903$503$266$136$68$11
50 years$875$480$250$126$61$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $896,000, adding $2,334 every year, while hoping to spend $22,340 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 44/38/18 Blend
58$896,000$896,000$896,000$896,000
59$989,800$942,312$928,424$1,028,105
60$1,066,989$964,715$935,756$1,077,648
61$1,151,304$987,468$942,586$1,128,923
62$1,243,446$1,010,563$948,872$1,184,030
63$1,344,191$1,033,993$954,571$1,243,334
64$1,454,389$1,057,750$959,641$1,307,237
65$1,574,980$1,081,823$964,032$1,376,181
66$1,706,997$1,106,201$967,696$1,450,654
67$1,851,578$1,130,872$970,581$1,531,192
68$2,009,975$1,155,822$972,632$1,618,387
69$2,183,570$1,181,034$973,792$1,712,893
70$2,373,882$1,206,493$974,002$1,815,427
71$2,582,584$1,232,177$973,197$1,926,782
72$2,811,521$1,258,067$971,313$2,047,832
73$3,062,723$1,284,139$968,279$2,179,539
74$3,338,427$1,310,368$964,022$2,322,964
75$3,641,097$1,336,727$958,467$2,479,277
76$3,973,447$1,363,185$951,534$2,649,766
77$4,338,467$1,389,709$943,139$2,835,854
78$4,739,451$1,416,265$933,194$3,039,107
79$5,180,026$1,442,813$921,608$3,261,251
80$5,664,190$1,469,313$908,283$3,504,191
81$6,196,347$1,495,718$893,120$3,770,025
82$6,781,348$1,521,982$876,013$4,061,067
83$7,424,537$1,548,051$856,851$4,379,866
84$8,131,804$1,573,869$835,519$4,729,236
85$8,909,636$1,599,377$811,897$5,112,274
86$9,765,181$1,624,508$785,858$5,532,397
87$10,706,314$1,649,194$757,269$5,993,372
88$11,741,713$1,673,360$725,993$6,499,352
89$12,880,939$1,696,925$691,884$7,054,912
90$14,134,525$1,719,805$654,793$7,665,099
91$15,514,079$1,741,907$614,560$8,335,475
92$17,032,388$1,763,134$571,022$9,072,171
93$18,703,546$1,783,381$524,004$9,881,946
94$20,543,077$1,802,537$473,329$10,772,252
95$22,568,092$1,820,482$418,806$11,751,301
96$24,797,441$1,837,090$360,240$12,828,147
97$27,251,897$1,852,224$297,425$14,012,770
98$29,954,349$1,865,741$230,146$15,316,171
99$32,930,017$1,877,487$158,181$16,750,477
100$36,206,694$1,887,300$81,296$18,329,055